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Seagate Tech (STX) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date

Jul 16, 2026

Before Open (Confirmed)

Period Ending

2026 (Q4)

Consensus EPS Forecast

5.09

Last Year’s EPS

2.59

Same Quarter Last Year

Analyst Consensus

Strong Buy

Based on 19 Analysts Ratings

Earnings Call Summary

Q3 2026

Earnings Call Date:Apr 28, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call presented multiple strong operational and financial wins: substantial revenue growth (44% YoY), record margins, very high free cash flow, accelerating HAMR product momentum (Mozaic 4 revenue shipments and roadmap to 50 TB), improved leverage and an investment-grade rating. Challenges highlighted were largely manageable: remaining HAMR customer qualifications, capacity constraints that prioritize cloud demand (limiting short-term ability to serve lower-capacity markets), residual debt and concentration of revenue in cloud customers. On balance, the positives (robust top-line growth, margin expansion, cash generation and clear product roadmap) outweigh the lowlights.

Company Guidance

For the June quarter Seagate guided revenue of $3.45 billion ± $100 million (midpoint implying ~41% year‑over‑year growth), non‑GAAP operating expenses of about $295 million, and non‑GAAP operating margin in the lower‑40% range; non‑GAAP EPS is expected at $5.00 ± $0.20 based on a tax rate of ~16% and a non‑GAAP diluted share count of ~231 million shares (including ~3 million from the 2028 convertible), with other income/expense expected to remain relatively flat. Management also said free cash flow should improve further through the remainder of calendar 2026, fiscal‑year capex is expected to stay in the 4%–6% of revenue range, and net leverage is expected to continue declining as debt reduction and profitability progress.

Strong Revenue Growth

Revenue of $3.1 billion in the March quarter, up 44% year-over-year and 10% sequentially; June-quarter guidance midpoint of $3.45 billion (~41% YoY growth at midpoint).

Record Profitability and Margin Expansion

Non-GAAP gross margin of 47% (up 180 basis points sequentially) and non-GAAP operating margin of 37.5% (up 560 basis points sequentially); non-GAAP EPS of $4.10, up 115% year-over-year and 32% quarter-over-quarter; June-quarter guide implies operating margin in the lower-40% range and non-GAAP EPS of $5.00 ± $0.20.

Exceptional Free Cash Flow and Cash Generation

Free cash flow of $953 million for the quarter (up 57% QoQ), representing a free cash flow margin of 31% — one of the highest levels in over a decade.

Robust Data Center Demand and Capacity Shipments

Shipped 199 exabytes in the quarter (up 39% YoY); data center accounted for 88% of exabyte shipments and 80% of revenue; data center revenue $2.5 billion, up 55% YoY and 12% sequentially.

Mozaic HAMR Product Momentum

Mozaic 4 (second-generation HAMR) began revenue shipments in late March; Mozaic 4 delivers up to 44 TB per drive (~30% more capacity vs prior generation) and is expected to represent a majority of HAMR exabyte shipments exiting calendar 2026; Mozaic 5 development targeting 50 TB with qualification shipments late calendar 2027.

Improved Balance Sheet and Capital Allocation

Retired $641 million of gross debt in the quarter (year-to-date gross debt reduction ≈ $1.1 billion); gross debt exiting quarter ≈ $3.9 billion; net leverage improved to 0.7x; Fitch upgraded Seagate to investment grade; returned ~$191 million to shareholders via dividends and buybacks in the quarter.

Build-to-Order Visibility and Customer Commitments

Nearline capacity almost fully allocated through calendar 2027 with build-to-order contracts being finalized through end of fiscal 2027; top 3 global CSPs' RPO nearly doubled to ~$1.1 trillion indicating strong future demand.

Operational Efficiency and Cost Discipline

Capital expenditures of $151 million in the quarter (~4% of revenue YTD) with FY26 capex expected in 4–6% of revenue range; OpEx disciplined at $296 million (9.5% of revenue) and expected roughly flat in dollars going forward.

Seagate Tech (STX) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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STX Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Jul 16, 2026	2026 (Q4)	5.09 / -	2.59	―	―	―
Apr 28, 2026	2026 (Q3)	3.52 / 4.10	1.9	115.79% (+2.20)
Jan 28, 2026	2026 (Q2)	2.84 / 3.11	2.03	53.20% (+1.08)
Oct 28, 2025	2026 (Q1)	2.40 / 2.61	1.58	65.19% (+1.03)
Jul 29, 2025	2025 (Q4)	2.45 / 2.59	1.05	146.67% (+1.54)
Apr 29, 2025	2025 (Q3)	1.74 / 1.90	0.33	475.76% (+1.57)
Jan 21, 2025	2025 (Q2)	1.88 / 2.03	0.12	1591.67% (+1.91)
Oct 22, 2024	2025 (Q1)	1.49 / 1.58	-0.22	818.18% (+1.80)
Jul 23, 2024	2024 (Q4)	0.76 / 1.05	-0.18	683.33% (+1.23)
Apr 23, 2024	2024 (Q3)	0.29 / 0.33	-0.28	217.86% (+0.61)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

STX Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Apr 28, 2026	$578.62	$642.84	+11.10%
Jan 28, 2026	$441.84	$445.47	+0.82%
Oct 28, 2025	$221.87	$264.27	+19.11%
Jul 29, 2025	$151.43	$146.21	-3.45%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.